Last wednesday's Wall Street Journal had a comparison of biotech companies and listed them by the number of patents. ISIS was ranked third (trying to recall from memory the other top contenders were Amgen, Biogen, and Genentech but they are all giants compared to ISIS). Aren't those 180 or so patents worth anything? Inventions usually tend to go strange ways after a few years. Also if one of the giant biotech companies wants to look more sexy in innovation to their shareholders all they have to do is to buy out ISIS and they get on the top of the list in number of biopatents very cheaply.
For that reason I would expect that sooner or later ISIS might be bought out. Any comments?
Patents are granted for protection of intellectual property. Of the 450 ISIP patents mentioned, how many were acquired from Gilead Sciences? Of the 450, how many are in medicinal chemistry, the discipline that was pretty hard hit by the recent ISIP layoffs? There are 3 "p's" to the equation that you attempt to write - patents, people, and profits. The first and the last don't work without the application of intellect of the middle one. In my experience, companies are less likely to seek M&A for the plaques on the wall but for the people who made them possible. And the risky part of that strategy is keeping those people happy or handcuffed.
Part of Dirkraat's departing message was discouragement with management decisions. He didn't spell out specifically what he was talking about in every aspect, but I would guess what cyclixPL has clarified here was part of it.